Callas Corporation paid \(\$ 380,000\) to acquire 40 percent ownership of Thinbill Company on January 1, 20X9. The amount paid was equal to underlying book value. During 20X9, Thinbill Company reported operating income of \(\$ 45,000\), an increase of \(\$ 10,000\) in the market value of trading securities held for the year, and an increase of \(\$ 20,000\) in the market value of available-for-sale securities held for the year. Thinbill Company paid dividends of \(\$ 9,000\) on December 10, 20X9.

\section*{Required}
Give all journal entries recorded by Callas Corporation in 20X9, including closing entries at December 31, 20X9, associated with its investment in Thinbill Company.